After a year of no updates, (lets just say it has been a very long and eventful year), I have decided to restart this blog, mainly because of the 10k+ hits I have been receiving lately. I suppose with so many people visiting my blog, perhaps it would be best if I started adding more posts.
So, to restart this blog, lets talk about something a bit controversial, that's right! You saw the title, just because you have spent three years of your life learning financial reporting, balancing accounts and memorising IFRSs, does NOT mean you should spend the rest of your life doing so. Heck, I don't even think your first job should even be in an accounting firm!
Now, why do I make this bold statement, personally it is because I have found career development and satisfaction OUTSIDE of the accounting world, despite graduating with an accounting degree in 2007. Perhaps many old-school accountants might find my statement to be heretic, but I am speaking from personal experience and also the shared experience of my peers, some of whom who have joined the accounting workforce and some who have not.
I am not saying that you should completely disregard joining an audit firm. If your dream is to rise up the ranks to become a senior audit partner, then, by all means, join an audit firm. However, if you feel that you do not conform to the stereotypical, number-crunching, hunched-over-papers, stressed-out accountant, then know that there is still hope for you yet.
Firstly, understand that after graduation, you DON'T have to join an audit firm. Yes, audit firms will teach you the nitty-gritty of how financial reports are really formed, the rigors of the audit process and how an organisations works. And if you get an offer from the big four, who are you to turn them down? Just imagine, getting an offer from PwC. Wow. But what most people leave out are the long hours, the weekends worked away and the tedium of doing the same audit work over and over again. Its no wonder that audit firms have such high turnovers for new staff. But its ok, there's always a huge wave of fresh faced accounting students to replace the jaded seniors who have been spent in the two years they have worked there.
An audit firm will not guarantee you a high ranked position in the future. I personally know a CEO of a GLC who started of his career as an accountant in the accounting department of a corporation. You see, starting in an audit firm will not necessarily turn you into CEO material, and on that same note, joining a less high profile position as a corporate accountant won't diminish your chances of being one.
With that said, let us consider what career options are available for the fresh-faced accounting graduate:
1. Management Consultant
Pros: Well paid, Smooth-talking, Generally perceived to be well-educated, Good networking prospects
Cons: Generally thought of as over-paid, nonsense talking, too-educated snobs
The management consultant is a creature of the 1990s, where virtually all organisation-related problems (IT/HR/CSR/etc..) could be solved by throwing consultants at it. A consultant is essentially an external expert on a certain subject matter who looks at his client's problems from third-party perspective. While this sounds good on paper, the reality is that many consulting firms take fresh graduates with good academic results (from good universities), pay them lots of money, feed them essential information, teach them catchy buzzwords then toss them at the client. Ok, perhaps i'm embellishing a little, but what this means is that working in a management consultant firm means that you will be up-skilled very quickly. In fact, part of the job requirement is an ability to learn things fast. Because you always need to be smarter than your clients (which is what they pay you for). Also, management consultants tend to work on a variety of projects in various situations, meaning that you will be able to get a wide range of working experience in different industries within your first few years of working. Did I mention the pay isn't bad either?
2. Investment Banker
Pros: Highly Paid, Good Analytical skills, Ability to interpret financial data
Cons: Ungodly working hours, highly demanding job, a requirement to put work before family
Ever watched Wall Street? Yeah, that's an investment banker. Handle huge amounts of cash, make a lot of money for the client, kick back with some Chardonnay. As usual Hollywood leaves out the bits about the long working hours, the stacks of antacids, flu meds, panadols and aspirins that investment bankers keep in their drawer and the fact that leaving work at 7pm is considered working a half-day. But its ok, you get paid a lot and your earning potential goes up if you work on the trading floor. But long hours are an industry requirement. The skills learned at an investment bank are invaluable though, you will learn how to evaluate a company at a glance, mad financial modelling skills and have a chance at using the fabled Bloomberg Machine (trust me, not many people know how to use it). If you are single, have a bland social life and don't plan on getting married soon, try working at an investment bank for a few years, it will make EVERY job you have after that seem like a cake walk.
3. Corporate Accountant
Pros: Regular Hours, Predictable routine, Not too demanding work culture
Cons: Highly routine work, surrounded with records, receipts and invoices, people may mistakenly call you accounts clerk
Ok, suggesting this job may not be in line with the title, but what the heck, here goes:
Ah, the corporate accountant, clock in at 8am, leave at 7pm. Simple, easy, routine. Why go and earn big money at high-paced firms when you can relax and enjoy life at a steady pace? Sure, the work is kind of routine and you might be doing the same time for a number of years but the pay is quite good and the work is never too demanding, only when accounts are closing but that only happens like once a year. Play your cards right and rub shoulders with the right people and you might even be a CEO of some big company one day... or you can take it easy, do what needs to be done and hang out with your friends after work, totally up to you. Don't expect to get too much experience working beyond your company's industry though, unless you work for a conglomerate who believes in moving their staff around different divisions.
So there you have it, three different potential jobs which you, as a fresh gradate can, and should try applying for. Although most graduates will want audit jobs, why be like the rest when you can be DIFFERENT?
If you know of any other jobs you can join as a fresh grad, feel free to share in the comments!
No comments:
Post a Comment